The Ultimate Amortization Calculator: Step-by-Step Guide for RE Investors

[@ericmoonga2791]

How do i change the term of payment from years to weeks?

[@charlietoma6230]

Hello, I tried to download the template but it is different than the one in the video provided above?

[@Incomedigs]

The link to the google sheet is pretty much the same: docs.google.com/spreadsheets/d/1FyBdBcvJRrU2p458vDuHqZM7ZYD72i0jFGqtAMkGl9Q/copy#gid=0

[@Incomedigs]

Check out my End-to-End Quickbooks Training. www.incomedigs.com/reab ($50 off w/ code KZbin50) Link to Advanced Amort Calculator: www.incomedigs.com/amort-calculator

[@Jon-Lepel]

Hi Nick. This is great thank you. Do you have any suggestions to adjust these P&I amounts if the dates are not paid on the exact(1st of each month)vs paying the payment within a grace period, etc. An amort is great for out-of-the-gate setup, but as we all know, not every small business will pay on the exact date(per the amort) as prescribed. I find my customers pay within their grace period or are always off a day or two, which throws off the original amort.

[@Incomedigs]

Hi Jon....great question! Yes, some loans will keep to the amort schedule no matter what (using the bill due period as the date they calculate interest). To your question, some banks do not! Interest is based, instead, on the date the payment was made. I've toyed around with this a bit.... I've found that trying to calculate becomes a bit of a headache. Instead, we keep the amort table in tact. However, we override the calculations with actual payment info. Because of the formulas we're using...the rest of the amort should stay in tact. Here's what I mean..... Let's say your customer gets to the first payment...instead of paying on 9/1/2023, he/ she pays on 9/10/2023. The payment amount doesnt change...however, when you get the next statement, the amt allocated to P&I is off.....all you need to do is go into cell C7 and replace the formula w/ the actual amount of interest paid. Then, the rest of the formulas will stay in tact: Principal for that payment will auto calculate, your loan balance at the end of that period will auto calculate....and all subsequent payments (P&I) will auto calculate. It is possible to adjust the calculator to account for various payment dates. However, I doubt you actually know how late your customer will make these payments....so its probably best to say: "Well, let's plan on you paying on the due date. If/ when you dont....we'll adjust". Hope that helps. If, instead you wanted to be able dive a bit deeper on that calculation...feel free to reach out directly and we can potentially build a little calculation to do just that. Thanks for watching!

[@patrickparamore3031]

I found two errors in your schedule. I can't figure out the solution, but I did download your file and can reproduce both errors. Are you interested in collaborating to figure out these errors? Sure would like to brainstorm with you if interested, please let me know.

[@Incomedigs]

Ya! sure...email at [e-mail]

[@jimmyspencer4844]

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